18 December 2012

Singapore Stock Market Daily Update - 18 Dec 2012

#Singapore shares opened higher on Tuesday (18 December 2012) with the Straits Times Index up 10.36 points or 0.3% to 3,169.06. Volume was 344.2 million shares valued at S$137.5million. Losers beaten by winners 48 to 136.

#Wilmar International Ltd announced that it has agreed to sell all of its 15 per cent interest in Fortune Gas Investment Holdings Ltd (FGIH) to China Natural Gas (CNG) Investment Ltd for US$60 million (S$73.2 million) in a condition.

#Singapore Property - Developers sold 1,087 private homes in November, down 44.2 per cent from the previous month's 1,948 units, according to information released by Urban Redevelopment Authority on Monday. The figure is the lowest since December 2011, when the number was 632 units. Year on year, the November 2012 sales of 1,087 units is down 36.1 per cent from 1,702 units in November 2011.

#Cosco - The company announced that it has secured a contract valued over USD370 million from a European company to build one (1) FPSO. The FPSO will measure 78 meters in diameter, 32 meters high and will have a storage capacity of up to 400,000 barrels of oil. The FPSO is scheduled for delivery in June 2015.

#Avic - The company has on 13 December 2012 (Luxembourg time), through the SPV (incorporated on 20 November 2012), incorporated the SPV Lux -- AVIC International Marine Engineering (Lux), S.à r.l., as the Group’s investment holding vehicle, under the laws of Luxembourg. The initial issued and paid-up share capital of the SPV Lux is Euro 12,500.00 (being the permitted minimum share capital of a company incorporated under the laws of Luxembourg), comprising 12,500 shares at Euro1.00 each.

#Food Empire - The company announced that it has subscribed for an additional 32,000 new shares at nominal value of Euro 1.71 (equivalent to USD 2.24) each and at a premium of Euro 46.10 (equivalent to USD 60.26) each in the share capital of its associated company, Simonelo Limited. The total subscription price of USD2 million was paid in cash by FER HK and funded through internal resources. The share subscription is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year

#Lion Asiapac - The company announced a JV to propose acquisition of land in Yangzhou for property development. The initial registered capital of the JVCo will comprise US$30 million (approximately S$39 million), of which LAPS and LAPD shall each contribute 50% (i.e. US$15 million or approximately S$19.5 million). The land (the "Land"), which is situated at Harbourside New City of Yangzhou Economic and Technological Development Zone, Jiangsu Province, PRC, has a total land area of 80,137 m2 and comprises two (2) land parcels, being (a) a land plot for residential development and having a land area of 52,000 m2 and (b) a land plot for commercial development and having a land area of 28,137 m2. The proposed development will be a mixed-use development comprising residential units as well as shops and offices for commercial use.

#CapitaCommercialTrust - The company announced that CCT MTN has today issued its ¥10,000,000,000 1.35875 Per Cent. Notes due 2019, pursuant to the MTN Programme established by CCT MTN on 20 November 2007. The obligations of CCT MTN under the Notes are unconditionally and irrevocably guaranteed by the CCT Trustee. The proceeds from the issuance of the Notes denominated in Japanese yen have been hedged into Singapore dollars amounting to S$148,300,000, and will bear a Singapore dollar fixed interest rate of 2.8875 per cent. per annum payable semi-annually in arrears and will mature on 17 December 2019.

#CWT - CWT Limited announced that a new entity (MRI Trading Private Limited) to support its commodity supply chain management business handled out of India.

#Sound Global - Sound Global Ltd. (“Sound Global” or the “Company”) wishes to announce that in December 2012, Sound Global and China Railway 18th Bureau jointly won the bid for No.6 Water Treatment Plant Project in Changchun City, Jilin Province, the PRC. Located in Changchun City, Jilin Province, the long-term designed water supply capacity of the project is 500,000 m3 /day with the near term capacity at 250,000 m3 /day. No. 6 Water Treatment Plant Project requires a total investment of approximately RMB2.035 billion, which will be invested, built and transferred as a BT project. The project is expected to commence construction in 2013 and to complete in 2015. The construction of this project will greatly relieve the inadequate water supply problem in Changchun City and will play an important role in supporting the sustainable development of Changchun City.#Ezion - The company announced the subscription of approximately 14.3 million new ordinary shares (the “New Shares”) by strategic investor, EDB Investments Pte Ltd (“EDBI”), the corporate investment arm of Singapore’s Economic Development Board, for approximately S$19 million. Owning one of the largest and most sophisticated class of Multi-Purpose Self Propelled Jack-up Rigs (“Liftboats”) globally, Ezion today has operations around the world. It is one of the first to promote the usage of Liftboats in Asia, Middle East and West Africa. Ezion is also the market leader in Southeast Asia and Australia to have the experience and track record to handle offshore logistics projects in environmentally challenging conditions. Ezion expects to grow its fleet and capabilities significantly as it strives to achieve its vision to be a world-class corporation and the market leader in Asia Pacific.

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